What happens when tax enforcement weakens? With 17% of millennials considering skipping their tax filing altogether, Blake and David dig into how IRS budget cuts might impact compliance and revenue. They analyze fascinating survey data revealing what taxpayers truly value when choosing between professional preparation and free options like Direct File. Plus, discover the accounting scandal forcing Financial Times to retract its Tesla analysis, exposing how GAAP complexity confounds even financial experts. You'll also learn why three major US cities face billion-dollar budget holes and the disturbing revelation that duplicate Medicaid payments are costing taxpayers billions—all while Tether still can't produce an audit after ten years of promises.Sponsors Bluevine - http://accountingpodcast.promo/bluevine (Bluevine is a financial technology company, not a bank. Banking Services provided by Coastal Community Bank, Member FDIC.) TeamUp - http://accountingpodcast.promo/teamup RightWorks- http://accountingpodcast.promo/rightnow2025Chapters(00:00) - Introduction and Podcast Overview (00:42) - Top Stories of the Week (02:27) - Sponsor Messages and Event Announcements (04:52) - Interview with Christina Ho on PCAOB (07:57) - Discussion on IRS Cuts and Tax Compliance (19:44) - Survey on IRS Direct File (28:21) - AI's Impact on Tax Professionals (29:14) - Discrepancies in Tax Software Results (30:08) - Public Opinion on Tax Filing Services (31:23) - Challenges for Tax Professionals (33:56) - LA's Budget Crisis (37:41) - Federal Government Spending Issues (38:45) - Medicaid Duplicate Payments Scandal (47:12) - Tether's Audit Controversy (51:55) - Tesla's Financial Discrepancies (57:33) - Big Four Transparency Rankings (59:24) - Conclusion and Farewell  Show NotesTax Revenue Could Drop by 10 Percent Amid Turmoil at IRShttps://www.washingtonpost.com/business/2025/03/22/irs-tax-revenue-loss-federal-budget/ Survey: Some Americans Might Roll the Dice on Not Filing Their Taxes This Year Due to IRS Job Cutshttps://www.cpapracticeadvisor.com/2025/03/26/survey-some-americans-might-roll-the-dice-on-not-filing-their-taxes-this-year-due-to-irs-job-cuts/157877/ Most Americans Are Interested in Using IRS Direct File to Prepare and File Their Taxeshttps://taxpolicycenter.org/briefs/most-americans-are-interested-using-irs-direct-file-prepare-and-file-their-taxes TurboTax vs Free Tax USA: A Shocking Price Comparison https://www.tiktok.com/@carolinesadventure/video/7482613418801859870 Survey: 91% of Americans Think Filing Taxes Should Be Freehttps://www.cpapracticeadvisor.com/2025/03/11/survey-91-of-americans-think-filing-taxes-should-be-free/157176/ Why you should think twice before claiming an income-tax extension. ‘This is not the year to do your normal procrastinating.’https://www.marketwatch.com/story/why-you-should-think-twice-before-claiming-an-income-tax-extension-this-is-not-the-year-to-do-your-normal-procrastinating-89937e0d LA Faces $1 Billion Budget Hole, Warns of Thousands of Layoffshttps://www.bloomberg.com/news/articles/2025-03-20/la-faces-1-billion-budget-hole-warning-thousands-of-layoffs WSJ investigation: Medicaid paid health insurers billions by covering the same patients twicehttps://www.risehealth.org/insights-articles/wsj-investigation-medicaid-paid-health-insurers-billions-by-covering-the-same-patients-twice/ Tether seeks Big Four firm for its first full financial audit — Reporthttps://cointelegraph.com/news/stablecoin-issuer-tether-big-four-firm-full-reserve-audit-report Financial Times retracts report on Tesla’s alleged shady accountinghttps://www.teslarati.com/financial-times-retracts-report-tesla-shady-accounting/ The Big 4 Transparency Accounting Awardshttps://big4transparency.beehiiv.com/p/the-big-4-transparency-accounting-awards Need CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.y...

The hosts dive into the fallout of IRS workforce cuts and their potential effects on tax collection. They explore the high-stakes rivalry between Rippling and Deel, rife with corporate espionage claims and legal battles. A fascinating discussion follows on the rapid advancements in AI, improving task efficiency in accounting. With a humorous touch, they highlight the complexities of this tech revolution and its implications for the future of accountants in a changing landscape.

Is the CPA exam fundamentally flawed? With FAR section pass rates plummeting to a 15-year low of 36% and a staggering 40-point gap between discipline section pass rates, something isn't adding up. Dr. Josh McGowan of Troy University joins Blake Oliver to dissect these troubling statistics and explore how the 2024 CPA Evolution model may be inadvertently pushing candidates toward "easier" disciplines. They tackle the growing movement to drop the 150-hour requirement and propose a provocative solution: splitting the credential into specialized tax and financial/audit pathways. Whether you're preparing for the exam or leading a firm, this conversation reveals how accounting's licensing system might finally evolve beyond its one-size-fits-all approach.Meet Our Guest, Dr. Josh McGowan, CPALinkedIn: https://www.linkedin.com/in/dr-josh-mcgowan-cpa-503846b7/X: https://x.com/Jmcgowan3838Need CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastClassifiedsWant to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAdTranscriptsThe full transcript for this episode is available by clicking on the Transcript tab at the top of this page

This week on the pod: Judge orders 6 agencies (including IRS?) to rehire fired probationary workers, we dig into the tax trick Dr. Oz used to pay no Medicare taxes, AICPA in pointless talks with the IRS, Digits takes on QuickBooks with AI-powered GL, remote accounting jobs in retreat, and more!SponsorsOnPay - http://accountingpodcast.promo/onpayRelay - http://accountingpodcast.promo/relay RightWorks- http://accountingpodcast.promo/rightnow2025 (use code TAP15 for 15% OFF)Chapters(01:29) - Listener Feedback and Criticism (02:37) - Political Discussions and Their Impact on Accounting (12:34) - IRS Workforce Cuts and Technology Issues (20:44) - Dr. Oz and the Limited Partner Tax Strategy (33:15) - Viewer Comments and AI Discussion (33:56) - Digits and AI (52:29) - Remote Accounting Jobs: Trends and Insights (58:32) - Deloitte's Audit Integrity (01:02:01) - IRS Drama: Chief Counsel Clash (01:03:11) - Podcast Wrap-Up and Listener Engagement  Show NotesDr. Mehmet Oz may have underpaid Medicare and Social Security taxes, Senate Democratic memo findshttps://www.nbcnews.com/politics/congress/dr-mehmet-oz-medicare-social-security-taxes-democrats-memo-rcna196237 DOGE proposes cutting IRS workforce by a total of nearly 20%https://www.cnn.com/2025/03/13/politics/doge-irs-workforce-cuts-downsizing/index.html Judge orders Trump administration to reinstate thousands of fired employees at VA, Defense Department and other agencieshttps://www.cnn.com/2025/03/13/politics/judge-opm-probationary-employees-fired-hearing/index.html AICPA CEO Releases Statement on IRS Services for this Tax Seasonhttps://www.aicpa-cima.com/news/article/aicpa-ceo-releases-statement-on-irs-services-for-this-tax-season Introducing Autonomous General Ledgerhttps://digits.com/blog/agl-announcement/ Building AI that Actually Works: 10 Key Lessons from Calendly’s CPO and Head of UXhttps://www.saastr.com/10-key-lessons-from-calendlys-cpo-and-head-of-ux-on-building-ai-that-actually-works/ Only 9% of SMB finance teams are still working fully remotehttps://www.cfo.com/news/only-9-of-small-medium-SMB-cfos-are-still-working-fully-remote-return-to-office-strategies/740312/ Opportunity to Attract and Retain Highly Motivated Working Parents via Enhanced Flexibility, Stronger Support Systemshttps://kpmg.com/us/en/media/news/kpmg-working-parents-survey-2025.html Steak n Shake's parent company gets an adverse opinion from auditorhttps://www.expressnews.com/business/article/steaknshake-biglari-auditor-adverse-opinion-20204740.php The IRS just demoted its chief counsel who clashed with Elon Musk’s DOGEhttps://fortune.com/2025/03/13/irs-chief-counsel-doge-elon-musk/Need CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastWant to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAdTranscriptsThe full transcript for this episode is available by clicking on the Transcript tab at the top of this page

Discover how accounting salaries have stagnated since 2007, leaving many professionals questioning their future. Delve into the IRS's controversial plan to cut its workforce by 50%, raising concerns about tax audits. Explore the surprising historical context of tariffs, featuring insights from Ronald Reagan, and their unexpected effects on the fentanyl trade. Lastly, learn about the legislative advancements aimed at easing CPA licensure requirements as the profession faces modern challenges in meeting investors' needs.

What happens when political changes collide with tax enforcement? In this revealing conversation, former IRS revenue agent Jeff Johnson shares his firsthand account of being caught in the recent mass layoffs at the IRS. Having just completed seven months of intensive training, Jeff was among 7,000 probationary employees suddenly terminated as part of a broader federal workforce reduction initiative.Jeff pulls back the curtain on the agency's antiquated systems—including 1960s COBOL programming and cryptic green screens that revenue agents must master—and explains why these cuts could mean fewer audits of non-compliant taxpayers. You'll hear how experienced professionals who left established careers to serve at the IRS were dismissed with minimal notice and why this might be just the beginning of a much more significant reduction targeting up to half of the agency's 90,000 workforce.Meet Our Guest, Jeff JohnstonLinkedIn: http://www.linkedin.com/in/jon-jeffery-johnston-6812875Need CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastClassifiedsWant to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAdTranscriptsThe full transcript for this episode is available by clicking on the Transcript tab at the top of this page

What happens when the US government considers creating a cryptocurrency reserve? In this episode, Blake and David dive into Trump's surprising announcement about establishing a crypto strategic reserve and the immediate market reaction. They explore this proposal's potential consequences and skepticism, from security vulnerabilities to valuation challenges.You'll also hear about PwC Israel's $2.8 million fine for exam cheating, Connecticut's push to create alternative CPA licensure pathways, and how accounting firms are expanding into legal services. They also dissect the outcry over federal employees being asked to submit weekly accomplishment reports and break down Citigroup's jaw-dropping $81 trillion transfer error caused by poor software design.Whether you're tracking regulatory changes, interested in the evolution of professional services firms, or simply fascinated by the intersection of finance and technology, this episode delivers insights into the forces reshaping the accounting profession today.Sponsors Bluevine - http://accountingpodcast.promo/bluevine (Bluevine is a financial technology company, not a bank. Banking Services provided by Coastal Community Bank, Member FDIC.)  RightWorks- http://accountingpodcast.promo/rightnow2025 (use code TAP15 for 15% OFF)CPA.com - http://accountingpodcast.promo/cpaChapters(00:00) - Introduction and Welcome (00:29) - Crypto's Legitimacy and Trump's Announcement (01:44) - Crypto Market Reactions and Speculations (04:07) - Personal Updates and Hiking Adventure (05:36) - Crypto Reserve Concerns and Security Issues (08:00) - PWC Fined for Cheating Scandal (11:42) - Top Collegiate Accounting Programs (16:52) - FinCEN and Beneficial Ownership Reporting (17:59) - Fyre Festival 2 Announcement (20:46) - CPA Licensure Pathways and Reforms (25:33) - Accounting Firms Expanding into Legal Services (31:53) - Consulting Firms and Government Contracts (37:38) - Government Spending and Nonprofits (38:57) - Consulting Costs and Middlemen (41:26) - The Penny Debate (43:01) - Federal Employee Accountability (59:54) - Elon Musk's OpenAI Offer (01:04:58) - Citigroup's $81 Trillion Error (01:08:44) - Self-Driving Cars and AI (01:11:19) - Conclusion and CPE Message  Show NotesTrump names cryptocurrencies in strategic reserve, sending prices uphttps://www.reuters.com/world/us/trump-says-cryptocurrency-strategic-reserve-includes-xrp-sol-ada-2025-03-02/ Crypto's biggest hacks and heists after $1.5 billion theft from Bybithttps://www.reuters.com/technology/cybersecurity/cryptos-biggest-hacks-heists-after-15-billion-theft-bybit-2025-02-24/ PCAOB Sanctions PwC Israel for Quality Control Violations Related to Widespread Improper Answer Sharinghttps://pcaobus.org/news-events/news-releases/news-release-detail/pcaob-sanctions-pwc-israel-for-quality-control-violations-related-to-widespread-improper-answer-sharing CPA Success Index: Ranking the top collegiate accounting programshttps://www.accountingtoday.com/opinion/cpa-success-index-ranks-top-collegiate-accounting-programs FinCEN Not Issuing Fines or Penalties in Connection with Beneficial Ownership Information Reporting Deadlineshttps://www.fincen.gov/news/news-releases/fincen-not-issuing-fines-or-penalties-connection-beneficial-ownership Fyre Festival 2 tickets are on sale for up to $1.1 million after founder served prison time for defrauding investors of the first eventhttps://fortune.com/2025/02/26/fyre-festival-2-tickets-billy-mcfarland-prometheus-pass-music-lineup/ Progress: Tracking the conversation in all licensing jurisdictionshttps://www.mncpa.org/involvement/legislative/broadening-pathways-to-cpa/national/ Aprio Aims to Enter Legal Industry by Combining with Law Firm in Arizonahttps://www.cpapracticeadvisor.com/2025/02/13/aprio-aims-to-enter-legal-industry-by-combining-with-law-firm-in-arizona/156043/ McKinsey Estimates Advisor Shortage of 100,000 by 2034https://www.wealthmanagement.com/wealth-management-industry-trends/mckinsey-estimates-advisor-shortage-of-100-000-by-2034 Saudi Wealth Fund Blocks PwC from Advisory Work for One Yearhttps://www.bloomberg.com/news/articles/2025-02-28/saudi-wealth-fund-blocks-pwc-from-advisory-work-for-one-year A message from SecVA Doug Collinshttps://www.youtube.com/watch?v=r8Z_RkqSAzo Everyone Hates Pennies, Except This Guyhttps://www.wsj.com/business/mark-weller-penny-defender-trump-d543a9de?mod=business_lead_pos1 Federal workers get a new email demanding their accomplishmentshttps://www.npr.org/2025/03/01/g-s1-51490/federal-workers-new-email-accomplishments Fact Sheet: President Donald J. Trump Proceeds with Tariffs on Imports from Canada and Mexicohttps://www.whitehouse.gov/fact-sheets/2025/03/fact-sheet-president-donald-j-trump-proceeds-with-tariffs-on-imports-from-canada-and-mexico/ Sam Altman Rejects Elon Musk’s Offer To Buy OpenAI Control—And Mocks Xhttps://www.forbes.com/sites/mollybohannon/2025/02/10/sam-altman-rejects-elon-musks-offer-to-buy-openai-control-and-mocks-x/ Former U.S. Senator Robert M...

Billions in federal funds for nonprofits were abruptly frozen by the Trump administration, leaving organizations scrambling to stay afloat. Blake speaks with Jerilyn Dressler and Harriet "Hatsy" Cutshall from YPTC about how these freezes disrupted essential services, the complex flow of federal grants, and the rigorous compliance requirements nonprofits must meet. With a judge ordering the funds to be reinstated, they discuss what’s next for nonprofits and the ongoing challenges of government funding oversight.Meet Our Guests: Jerilyn Dressler, CPA : https://www.linkedin.com/in/jerilynkeitdresslercpacfeHarriet "Hatsy" Cutshall, CPA : https://www.linkedin.com/in/hatsycutshallcpa-yptcGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastClassifiedsWant to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAd

In this engaging discussion, Dr. Jack Castonguay, a CPA and associate professor at Hofstra University specializing in accounting and finance, critiques the proposal for a Strategic Bitcoin Reserve. He challenges the wisdom of investing taxpayer funds in volatile cryptocurrencies, highlighting their limited practical applications. The conversation covers the dangers of speculating with public money, concerns about anonymity in Bitcoin ownership, and the transformation of Bitcoin from a currency to a speculative asset, raising alarms about government involvement in this high-risk arena.

This episode originally appeared on the Earmark Podcast. Listen and subscribe at https://podcast.earmarkcpe.com.Erica Goode, CPA, reveals how she built a thriving $200K accounting firm working just 15 hours a week. Discover the power of niching, efficient processes, and work-life balance in this candid discussion. Erica will share her journey from corporate burnout to entrepreneurial success, offering practical insights on pricing strategies, time management, and building authority in your niche. Whether you're considering starting your own firm or optimizing your existing practice, this webinar will inspire and equip you to reimagine what's possible in your accounting career.Get CPE for this episode here: https://www.earmark.app/c/1802Show NotesThe 15-Hour Accounting eBook:https://mailchi.mp/ericagoode/15-hr-accountant-ebookMeet Our Guest, Erica GoodeLinkedIn: https://www.linkedin.com/in/erica-goode-cpa-00205616/Need CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastClassifiedsWant to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAdTranscriptsThe full transcript for this episode is available by clicking on the Transcript tab at the top of this page